Germany's Olymp to increase RMG purchase from Bangladesh

Olymp, a high-end garment wholesaler in Germany, plans to increase its purchase from Bangladesh, as the brand thinks Bangladesh is a proven destination for apparel outsourcing at competitive prices.
Currently, Olymp purchases 1.3 million pieces of men's shirts a year from Bangladesh, including some other knitwear products for men, from Viyellatex Group.
The company plans to increase the number to two million pieces soon, “because the country is capable of supplying the items at competitive prices”, Mark Bezner, owner and chief executive officer of Olymp, told The Daily Star in an exclusive interview in Dhaka yesterday.
Olymp buys each shirt at $10, he said.
“I have a long-term plan in Bangladesh as China is no more competitive for outsourcing garment products. I am very pleased here in Bangladesh with my partner. China is now expensive and has a shortage of workers,” he said.
Bezner said Bangladesh has bright prospects in readymade garment business in future.
The country needs to maintain lead-time to attract more international buyers, he said.
The CEO of the company that has an annual turnover of 212 million euros said his company mainly does wholesale trading. “I have come here to do business ethically and every buyer should also practice ethical buying.”
When asked, he said Bangladesh's garment sector will not be affected by the proposed withdrawal of the GSP facility by the US.
The adoption of a resolution by the European parliamentarians on the recent fire at Tazreen Fashions in Bangladesh will not affect the country's RMG business in Europe, because the country has improved a lot in this business over the years, he said.
To increase purchase from Bangladesh by a brand like Olymp is good news for the country, said KM Rezaul Hasanat, chairman and CEO of Viyellatex Group.
Bezner yesterday inaugurated a school in Tongi which will be operated by Viyellatex Group in partnership with Olymp for the underprivileged and physically-challenged children. A total of 200 children will be able to study at the school.

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